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(2) Impact of a price ceiling in the instant oatmeal market [Past exam question] The demand and supply curves for instant oatmeal are as follows:
(2) Impact of a price ceiling in the instant oatmeal market [Past exam question] The demand and supply curves for instant oatmeal are as follows: . Q.=10-0.5P, where Q, is the quantity of instant oatmeal packets (in million units) demanded when the price consumers pay is Pa. Q, =-2+ P. when P. is greater than or equal to 2; Q, = 0 when P.
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